First Ultra Low Emissions Zone drives up EV values at auction

The introduction of the UK’s first Ultra Low Emissions Zone in April is pushing up prices of EVs at auction.

Shoreham Vehicle Auctions (SVA) said it had seen a “significant rise” in demand for EVs in recent months with the market witnessing stronger residual values on both cars and vans.

Alex Wright, managing director of SVA, said: “The second half of 2018 saw a strong demand for used EVs and that has continued into 2019, which has resulted in ever stronger prices.

“For example, the Nissan e-NV200 van has appreciated in value year-on-year by around £1,000.

“Part of this rise in value is because of the increasing awareness across London and the south east of the pending introduction of the UK’s first Ultra Low Emissions Zone in April.”

SVA teamed up with the Energy Saving Trust to launch the first ever used electric vehicle training course for car and van dealer sales staff in May 2018. One of its main jobs was to dispel many of the myths surrounding EVs to help educate dealers on which customers will benefit most from buying and running an electric car.

“We have helped support an increase in knowledge of EVs within the market and many progressive dealers have a good understanding of EVs, customer suitability and battery types,” explained Wright.